The proposal also addresses auto-escalation, which automatically increases employees’ contributions to their accounts every year. When automatically enrolled, nine in 10 new hires remained in their employer’s plan after three years, a Vanguard report found. One of the gravest dangers to Americans’ retirement security is the lack of access to employer-sponsored retirement plans, which an auto-enrollment policy would not solve. There are many other holes in retirement security to patch, and plenty of proposals floating in and around Capitol Hill to address them. “That is the most urgent retirement security priority,” said Kathleen Romig, senior policy analyst at the Center on Budget and Policy Priorities.
